The nightmare of Wall Street bankers is realizing: they are being replaced by mathematical models and computer algorithms. Junsuke Senoguchi, senior equity strategist at Morgan Stanley Securities, Mitsubishi UFJ, invented a machine that predicts the direction of the Japanese stock market. On the 10th of each month, Senoguchi tested the results. The model makes a simple prediction: Will the Japanese stock market rise or fall after 30 days? After four years of testing, the correct rate of the model was 68%. From March 2012 to January 10, Senoguchi's robot predictors made 32 predictions correctly in 47 tests. Although the sample is small, it is much higher than the 50% probability. The algorithm has invaded the global stock market. From high-frequency traders to asset managers, everyone uses complex quantitative models to determine their own strategies. Now, traders on Wall Street have already felt the challenge. Since the end of the financial crisis, investment banks have cut tens of thousands of jobs. Among them, layoffs in the foreign exchange trading sector are particularly hot. Investment banks such as Morgan Stanley, Barclays and Societe have laid off employees and turned to automation. A leaner, more efficient quantitative trader is trading on a mathematical model. In 2014, a total of 2,300 people worked at the front desk of the global foreign exchange department, down 23% from the level four years ago. In addition to traders, investment advisors are also being challenged by algorithms and models. Wealthy bank customers are beginning to accept the advice of robotics consultants, and in order to compete for these customers, many banks are actively launching their own version of automated investment technology. Kendra Thompson, managing director of Accenture, a consulting firm, told Bloomberg that millennials and small investors are not the only customers who use robotics consultants. At Charles Schwab, approximately 15% of automated portfolio customers have more than $1 million in managed assets. Thompson said: "This is real money flow. You see customers with more money are trying new technologies. They put some of their money into robot consultants and try." Morgan Stanley, Bank of America and Wells Fargo employ a total of 46,000 human consultants. These companies are planning to use more artificial intelligence to replace traditional employees. Deutsche Bank announced last year that it will launch a computerized investment advisory service to follow the trend of investment in robotics consultants such as BlackRock. The robot consultant launched by Deutsche Bank is called AnlageFinder, which is one of the initiatives of the bank's network investment platform to expand its services. The consultant will use the questionnaire and computer designed program algorithms to provide advice to the bank's network investment platform clients on the stock portfolio. Deutsche Bank believes that Anlage Finder is not only suitable for investment novices, but also for experienced investors. It informs customers of potential investment risks, such as focusing too heavily on certain sectors and highlighting other investment options. Banks will soon realize that because they charge a relatively high fee, they must provide services that are better than their competitors. After all, the service fees charged by these robot consultants are very low. Thompson pointed out that technology will make consultants look smarter, better, stronger, and more in control. Yoga Mat,Thick Yoga Mat,Yoga Mat Strap,Non Slip Yoga Mat Cixi Mingsheng Rubber & Plastic Co.,Ltd. , https://www.popmat.com